London to transfer £2.5 billion from Abramovich’s assets to Kyiv

Milan, 17 December (LaPresse) – The United Kingdom will formally issue instructions to transfer £2.5 billion (approximately €2.8 billion) from the sale of Chelsea FC by Roman Abramovich to humanitarian causes in Ukraine. British Prime Minister Keir Starmer told the House of Commons that the Russian oligarch’s funds, subject to UK sanctions, would be converted into a new foundation for Ukraine and that the issuance of a licence for the transfer would be Abramovich’s last chance to comply before legal action was taken. This was reported by The Guardian. ‘Time is running out for Roman Abramovich to honour the commitment he made when he sold Chelsea FC and transfer £2.5 billion to a humanitarian cause for Ukraine,’ Starmer said. ‘This government is prepared to enforce this through the courts, so that every penny reaches those whose lives have been destroyed by Putin’s illegal war.’ The Russian billionaire sold Chelsea in 2022 under pressure from the British government following Russia’s invasion of Ukraine.